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Council reviews water-tower funding options as KWO announces grants
Summary
The council was told the Kansas Water Office would announce water-tower grant recipients this month; if Palco is not selected the KDHE loan option at 2.87% interest with possible 60% principal forgiveness is available as a backup.
City leaders said they are awaiting grant announcements from the Kansas Water Office for the water-tower project and outlined a contingency if the grant is not awarded. Council members were told a KDHE loan option is available with a 2.87% interest rate and possible 60% principal forgiveness.
The discussion framed the loan as a fallback financing method if the city does not receive direct grant funding from KWO. No formal vote was taken on selecting the KDHE loan; the council approved reconciliations and bills later in the meeting to keep fiscal operations current.
